"If you're going to panic, do it fast and beat the crowd." ~ Jesse Livermore

Friday, January 20, 2012

Greece: No More Eurozone Cash If Bond Talks Fail

Greece: Eurozone Won't Add Cash If Bond Talks Fail
ABC News
By DEREK GATOPOULOS AP Eurozone countries won't increase their financial support to Greece if it fails to secure a bond-swap deal with private creditors, the country's foreign minister warned Thursday, saying that would renew the threat of a Greek ...

Euro Crisis Has Silver Lining for Morgan
Wall Street Journal
In the third quarter, its shares plunged because of worries over its exposure to troubled euro-zonedebt. But could Europe's pain also be an opportunity? Just as the old Continent's banks took market share during the financial crisis of 2008, ...

Confidence in eurozone improves despite downgrades
The Associated Press
Worries about the 17-nation eurozone have receded since the start of the year, with stocks rallying consistently and bond yields — the rate countries pay to borrow — sliding. Analysts warn, however, that those gains may simply be riding an absence of ...

Eurozone at odds over choice of ECB officials
Financial Times
By Ralph Atkins in Frankfurt and Matt Steinglass in Amsterdam Eurozone member states are set for a fresh clash over the European Central Bank's leadership after the Netherlands expressed concern at Madrid's attempts to keep a Spaniard on the bank's top ...

Downgrade the rating agencies
Financial Times
Standard & Poor's has put the agencies back into the headlines by downgrading a slew of eurozone governments and robbing France of its cherished triple A rating. There is something unsettling about S&P's eagerness to grab the headlines. ...

Financial Times

The euro crisis returns
The Economist
The first two weeks of the year were surprisingly calm for the storm-tossed euro zone. But a gale is blowing again. First a series of downgrades from Standard & Poor's, a leading debt-rating agency, coincided with a stand-off in the “voluntary” ...

Eurozone Crisis: What Investors Want To See From Eurozone Countries
Huffington Post
On Friday, ratings agency Standard & Poor's downgraded nine eurozone countries, including France, Italy and Spain. But Thursday, France and Spain had successful government bond sales with lower interest rates. European stocks rallied on Thursday as ...

Euro-Zone Optimism Lifts Emerging Market Currencies, Debt
Wall Street Journal
By Erin McCarthy and Prabha Natarajan Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Emerging market currencies and debt were still in favor Thursday as officials indicated a final deal on Greek debt was in the cards. Also, strong bond auctions of Spain ...

IMF Seeks More Funds to Gird for Euro Crisis
Wall Street Journal
The IMF said Wednesday it is seeking $500 billion in new lending capacity, including about $200 billion in commitments last month from euro-zone members. The IMF plans indicate a growing willingness of some nations to bear the costs of rescuing the ...

BUSINESS - Eurozone crisis: Graham BISHOP, European Finance Expert
France 24
BUSINESS - Eurozone crisis: Talks resume with private Greek debt bonholders. With Graham BISHOP, European Finance Expert . You are watching the latest business report from FRANCE 24. More business news on FRANCE 24: http://www.france24.com/en/business ...

Confidence in eurozone improves despite downgrades
San Francisco Chronicle
The results boosted confidence in eurozone banks, particularly those that are heavily exposed to bonds in countries like Greece and Italy. Shares in Italy's UniCredit soared 13 percent, France's Societe Generale 12 percent, and Deutsche Bank 9 percent. ...

Euro zone recession to endure midway into 2012 - Reuters poll
Reuters UK
By Andy Bruce | LONDON (Reuters) - The euro zone will probably wallow in a mild recession until the second half of this year, but even that assumes the region's sovereign debt crisis will not flare out control, a Reuters poll of economists found. ...

Eurozone outlook still partly cloudy: BMO
Financial Post
With a new year comes new hope, and there are some glimmers of light at the end of the tunnel when it comes to the eurozone crisis even as the outlook remains dim, Bank of Montreal experts said Thursday. Andrew Busch, global currency and public policy ...

Financial Post

Factbox: Coming events in the euro zone debt crisis
Reuters
(Reuters) - Following are coming events linked to the debt crisis in the euro zone: EUROPEAN UNION: January 23 - Eurogroup meeting of euro zone finance ministers. January 23 - Foreign affairs/general affairs council meeting of ministers. ...

Financial Crisis Narrative Flunks Reality Check: Jonathan Weil
Bloomberg
This brings us to the long-running kerfuffle over the role that Fannie Mae (FNMA) and Freddie Mac (FMCC) played in causing the financial crisis of 2008, which hasn't really ended. The way the discussion gets framed tends to go like this: Did Fannie and ...

Bloomberg

Germany cuts 2012 growth forecasts as eurozone crisis bites
Telegraph.co.uk
Mr Roesler conceded the forecasts were based on the assumption of a relaxation of market tensions and a rapid solution to the eurozone debt crisis. He said "without doubt" the main risk to the projection was a worsening of the crisis. ...

Telegraph.co.uk

`Eurozone Crisis to Dent Canadian Growth'
Daijiworld.com
Ottawa, Jan 19 (IANS): The Eurozone debt crisis will curb Canada's economic growth by 0.6 percent this year, or $9.89 billion, but it's a smaller damage compared to the expected 1 percent loss in the world's GDP caused by the turmoil, ...

EU's bailout fund capacity can be adjusted by governors-draft
Reuters
* Combined ESM/EFSF capacity to remain at 500 bln euros * Capacity is a minimum; governors may decide to raise it By Jan Strupczewski BRUSSELS, Jan 19 (Reuters) - The combined capacity of theeuro zone's permanent and temporary bailout funds will ...

Slovakia urges quick euro zone bailout activation
Reuters
Miklos also said he supports the IMF's idea of more than doubling its war chest by raising $600 billion in new resources to help countries deal with the fallout of the euro zone debt crisis. ($1 = 0.7802 euros) (Reporting by Martin Santa)

Eurozone current account deficit narrows in November: ECB
NDTV
The eurozone's current deficit, a closely watched indicator on the financial markets, narrowed in November, the European Central Bank said on Thursday. The current account showed a deficit of 1.8 billion euros ($3.2 billion) in November, compared with ...

UAE Ctrl Bk Gov: Euro Zone Crisis May Affect Future Oil Prices
Wall Street Journal
By Leila Hatoum ABU DHABI (Zawya Dow Jones)--The euro zone's current debt problems could have a negative influence on future crude oil prices, posing a potential headache for the economies of the energy-rich Gulf Cooperation Council, or GCC, region, ...

IMF sees euro zone GDP down 0.5 pct in 2012-ANSA
Reuters
MILAN Jan 19 (Reuters) - The International Monetary Fund expects the euro zone economy to contract by 0.5 percent this year and warns that tensions arising from the bloc's debt crisis threaten global growth, Italian news agency ANSA reported on ...

Juncker says Eurozone must find ways to boost economic growth while cutting ...
FinFacts Ireland
By Finfacts Team Jean- Claude Juncker, the Luxembourg prime minister and head of the Eurogroup of Eurozone finance ministers said on Wednesday ways must be found to boost economic growth while cutting public budgets because the region risks economic ...

FinFacts Ireland

FTSE CLOSE: Banks surge as eurozone debt worries are eased; Kesa and ASOS Xmas ...
This is Money
By This Is Money Reporters 17.20 (close): Banks surged by as much as 10 per cent today as eurozone debt worries eased and two major US lenders reported strong results. London's leading shares index hit a five-month high after encouraging bond auctions ...

This is Money

Greece: Eurozone won't add cash if bond talks fail
Albany Times Union
(Kostas Tsironis / AP) ATHENS, Greece (AP) — Eurozone countries will not increase their financial support to Greece if it fails to secure a bond-swap deal with private creditors, thereby renewing the threat of the country not being able to pay its ...

Confidence in eurozone improves despite downgrades
Newsday
Click here Confidence in eurozone improves despite downgrades Originally published: January 19, 2012 9:41 AM Updated: January 19, 2012 10:18 AM By The Associated Press SARAH DiLORENZO (AP Business Writer) (AP) -- France and Spain sailed through their ...

Newsday

IBM Looks Steady Despite Euro Zone Headwinds
All Things Digital
Deutsche Bank analyst Chris Whitmore expects some difficulties for Big Blue stemming mainly from the company's exposure to the troubled economies of the euro zone and related currency weaknesses there. He expects the company to report sales of $29.8 ...

Nikkei ends at 5-wk high on eased eurozone debt concerns
Mainichi Daily News
TOKYO (Kyodo) -- The Nikkei index rose for the third straight day and closed at a five-week high Thursday as worries about the eurozone debt problems abated on news that the International Monetary Fund is seeking to expand its lending capacity to ...

Mainichi Daily News

Forex – US Dollar Lower On Euro Zone Economic Optimism
Daily Markets
By Forexpros on January 19, 2012 | More Posts By Forexpros | Author's Website Forexpros – bsp;Forexpros – The US dollar traded mostly lower against its major counterparts Thursday, as euro zone debt auctions lifted economic optimism in the region. ...

Italy's Monti urges better euro-zone governance
MarketWatch
By Polya Lesova, MarketWatch LONDON (MarketWatch) — Italian Prime Minister Mario Monti called on Wednesday for more effective governance of the European Union and the euro zone to tackle the long-running sovereign debt crisis. ...

VISUALIZING THE BOOM/BUST EUROZONE CRISIS ...
By Cullen Roche
Europe has been saved, right? Not so fast. The recent fixes in Europe are all coming at the most opportune of times. The global economy is overcoming.
PRAGMATIC CAPITALISM

The IMF and the eurozone: weighing unconventional options to ...
By Financial Times
Martin Wolf\'s Economists\' Forum in the Financial Times writes about Obama, central banks, regulation, financial services, China and the global crisis.
Economists' Forum

Forex – EUR/GBP Holds Gains After Euro Zone Bond Auctions
By Forexpros
Elsewhere, Fitch's said that it expected its ratings review of six euro zone countries would result in downgrades of one to two notches in most cases. The review is set to be completed at the end of January. The euro also held gains against the ...
DailyMarkets.com

Eurozone auctions today | ForexLive
First up Spain: Spain to tap 4.25% October 2016 BONO, 4.60% July 2019 Obligacion and 5.85% January 2022 Obligacion. Target 3.5 to 4.5 bln euros Results.
ForexLive

Sion Owen: Investors, Business Schools and Financial Crisis
By Sion Owen
It is not just Wall Street that needs to be occupied and reformed, but Main Street, and the process is already underway in finance, retailing, manufacturing, education and politics. Perhaps this is the time for business schools to step forward and ...
The Huffington Post Full Blog Feed

Euro crisis – john_patrick - My Telegraph
By johnpatrick
By johnpatrick. There is apparently only one solution to the Euro crisis and that is for Germany to leave the Euro. The German Mark will become as strong as the Swiss Franc but the Germans will be able to deal with that problem as they see fit.
john_patrick

Confidence in eurozone improves despite downgrades | The ...
By The Associated Press
France and Spain sailed through their first long-term debt auctions since their credit ratings were downgraded by Standard & Poor's, a sign that politicians and the central bank have at least temporarily stemmed the spread of Europe's debt ...
Examiner AP RSS

Greece: Eurozone won't add cash if bond talks fail - Markets news
Eurozone countries won't increase their financial support to Greece if it fails to secure a bond-swap deal with private creditors, the country's foreign minister warne...
Mail.com: International

Today's front pages | Presseurop (English)
As it takes on an increasingly important role in the eurozone crisis, International Monetary Fund chief Christine Lagarde has asked EU member states to pay $500 billion into the organisation's coffers. Handelsblatt Düsseldorf. Eurozone crisis ...
Presseurop

Russia's ex-Finance Minister forecasts eurozone recession: Voice of ...
Russia's ex Finance Minister and economic analyst Alexei Kudrin has predicted further recession and a worse debt crisis in the eurozone in 2012. He noted that the EU's third largest economy Italy will be the next troublemaker.
Voice of Russia, News

IMF seeks $500 bn more as euro crisis rages | The Raw Story
By Agence France-Presse
The International Monetary Fund said Wednesday it needs up to $500 billion more to pad its war chest as the European debt crisisincreasingly threatens the global economy. With several European countries veering on recession and Greece ...
The Raw Story

NewsDaily: Relief in Spain, tension in Greece for euro zone
By John Stonestreet and Deepa Babington
The embattled euro zone cleared a major funding test on Thursday when Spain romped through a key bond sale, while signs pointed to only a mild recession for the 17-nation bloc.
NewsDaily: Business Headlines

When Europe Hits a Windmill: The Euro Crisis from Spain (Part II ...
By George Malkin
It is one thing to examine a financial crisis as troubling as Europe's using the news, the pundits, the data, and the precedents. It is another to be in Spain and observe its consequences. Although Spain remains an enchanting place in which to ...
The Unofficial Stanford Blog

Business cycles: Tracking the euro-zone economy in real time | The ...
A resolution, in turn, will be difficult to come by if the euro zone falls back into recession. If output is shrinking and unemployment rising, then austerity measures ...
www.economist.com/blogs/freeexchange/.../business-cycles

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